Peloton Wealth Strategists Purchases 1,984 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Peloton Wealth Strategists grew its holdings in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 221.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,881 shares of the semiconductor company's stock after acquiring an additional 1,984 shares during the quarter. Peloton Wealth Strategists' holdings in Synopsys were worth $1,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SNPS. Gateway Investment Advisers LLC lifted its stake in Synopsys by 24.9% in the second quarter. Gateway Investment Advisers LLC now owns 703 shares of the semiconductor company's stock valued at $418,000 after buying an additional 140 shares in the last quarter. RFG Advisory LLC boosted its stake in Synopsys by 2.2% in the 2nd quarter. RFG Advisory LLC now owns 2,152 shares of the semiconductor company's stock worth $1,281,000 after purchasing an additional 47 shares during the period. Cooper Financial Group increased its holdings in Synopsys by 174.6% during the 2nd quarter. Cooper Financial Group now owns 1,598 shares of the semiconductor company's stock worth $951,000 after purchasing an additional 1,016 shares in the last quarter. M&G Plc raised its stake in shares of Synopsys by 50.1% in the 2nd quarter. M&G Plc now owns 2,947 shares of the semiconductor company's stock valued at $1,753,000 after purchasing an additional 983 shares during the period. Finally, Andina Capital Management LLC lifted its holdings in shares of Synopsys by 2.8% in the second quarter. Andina Capital Management LLC now owns 664 shares of the semiconductor company's stock valued at $395,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Stock Performance

Shares of Synopsys stock traded down $8.79 during midday trading on Monday, hitting $508.49. 1,886,594 shares of the company traded hands, compared to its average volume of 1,073,896. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38. The stock has a market cap of $78.11 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 3.25 and a beta of 1.08. The firm's fifty day moving average price is $529.93 and its 200-day moving average price is $544.69.

Analysts Set New Price Targets

SNPS has been the subject of a number of research reports. Robert W. Baird decreased their price objective on Synopsys from $644.00 to $630.00 and set an "outperform" rating for the company in a report on Thursday. Loop Capital assumed coverage on shares of Synopsys in a research report on Monday, November 11th. They issued a "buy" rating and a $675.00 price objective on the stock. Mizuho assumed coverage on shares of Synopsys in a report on Tuesday, October 22nd. They set an "outperform" rating and a $650.00 target price for the company. Rosenblatt Securities reissued a "buy" rating and set a $635.00 price target on shares of Synopsys in a research report on Wednesday, December 4th. Finally, Berenberg Bank initiated coverage on Synopsys in a report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Synopsys presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.00.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.